Thursday, August 30, 2012

Quick Stats: Lincoln Park condo sales up HUGE 45% year to year

We had a brisk start of the year to condo sales in Lincoln Park. Condo (and attached town house) demand was up this year with our clients. Last year, condo unit sales were trending better in Lincoln Park and some North Side neighborhoods while median prices were lower in year to year comparisons.

703 condos (attached homes) have sold from January 1st to August 30th of this year. That's up about 45% over 2011 in which 484 attached homes closed during the same period. The median price in 2012 has been hovering around $400,000 or the year ( this includes a diverse array of attached units, one beds to town homes). The median price is 2011 was about $380,000 over the same period.

Bigger is better: 3 bedrooms units up 40%
Lower interest rates and confidence that prices are relatively stable in Lincoln Park may have people buying bigger again. This has probably helped the median price inch up this year as well. This year so far, 201 three bedrooms attached units have sold (the MLS regulates what can be called a 3 bedroom although some are 2 bedrooms with den etc...). 144 three bedrooms units closed in 2011 over the same period.

Sold! North Center Land for Sale: Coonley School District $190,000

Real Estate Broker and Author of this Blog

I am a Chicago real estate broker who began writing this blog in 2005. My group represents clients buying, selling and renting properties. I've been awarded Top 5% in sales volume for Chicago Association of Realtors every year from 2006-2015. Thanks for reading and working with us!
All posts and photos are by Eric Rojas and Bob DePalma unless otherwise noted. Contact us at erojas@kalerealty.com for great service!